Shocker for US shares as China retaliates in trade war

14/05/2019|2min

US stock markets have suffered their worst day since January after China announced tariffs on $60 billion worth of US goods, in the latest escalation of the trade war between the world's two biggest economies.
Beijing's finance ministry said it would target 5,140 US products, including batteries, spinach and coffee from 1 June, with penalty duties of 5 per cent to 25 per cent.
President Donald Trump criticised the move via Twitter and later announced that a $15 billion aid plan was being drawn up for US farmers affected by tariff hikes.
He added that he would meet Chinese president Xi Jinping at the G20 meeting in Japan next month for, what he hoped would be 'fruitful' talks.